WorksheetsSimple Interest
Total questions: 10
Worksheet time: 20mins
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
fraction
decimal
ratio
dollar amount
The simple interest formula is I=PRT. The P represents the principal. The principal is ___________________.
the amount of money borrowed or deposited
the percent interest for a year
the amount taxed
the amount the bank owes you for being a customer at their bank
Write the percent as a decimal.
4.3%
4.3
.43
.043
4300
Amount invested = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
$7.50
$26.25
$87.5
$262.50
Calculate the interest. I = PRT,
Principal = $1000,
Rate = 6%,
Time = 2 years
$100
$120
$180
1200
Calculate the interest. I = PRT,
Principal = $10,000,
Rate = 7%,
Time = 20 years
1400
1000
14000
14
Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?
$2600
$910
$9100
$260
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
$800
$1,000
$1,200
$1,500
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.
Bella borrowed $2750 for 18 months at a rate of 6.5%. How much interest will she have to pay?
$3,018.13
$268.13
$3,217.50
$26,812.50
